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Mar 31, 2022
Organogenesis Q1 2022 Earnings Report
Organogenesis reported a decrease in revenue and net income for Q1 2022, impacted by challenges related to the Omicron variant and changes in product portfolio.
Key Takeaways
Organogenesis Holdings Inc. reported a 4% decrease in net revenue for Q1 2022, totaling $98.1 million compared to $102.6 million in Q1 2021. Net income also decreased to $0.1 million from $9.9 million in the same period last year. The company's Advanced Wound Care segment saw a slight increase in revenue, while the Surgical & Sports Medicine segment experienced a significant decrease.
Net revenue decreased by 4% year-over-year to $98.1 million.
Advanced Wound Care product revenue increased slightly by 0.3% to $91.0 million.
Surgical & Sports Medicine product revenue decreased significantly by 39% to $7.2 million.
Net income dropped to $0.1 million, a decrease of $9.9 million compared to Q1 2021.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2022, the Company expects net revenue between $485 million and $515 million.
Positive Outlook
- Net revenue of between $485 million and $515 million, representing an increase of approximately 4% to 10% year-over-year.
- Net revenue from Advanced Wound Care products of between $455 million and $481 million, representing an increase of approximately 6% to 12% year-over-year.
- Net revenue from the sale of PuraPly products of between $207 million and $217 million, representing an increase of approximately 4% to 9% year-over-year.
- Net income of between $41.2 million and $52.7 million.
- EBITDA of between $70.3 million and $85.7 million.
Challenges Ahead
- Net revenue from Surgical & Sports Medicine products of between $30 million and $34 million, representing a decrease of approximately 9% to 19% year-over-year.
- Incremental operating expenses related to recently announced restructuring activities.
- Revised GAAP tax rate assumption for the twelve months ended December 31, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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